Chapter VI: Product monitoring and governance requirements

I.-Insurance undertakings, as well as intermediaries when designing insurance products, shall develop, apply and update in accordance with Commission Delegated Regulation (EU) 2017/2358 of 21 September 2017, a validation process for each insurance product, or significant adaptations to an existing insurance product, prior to its marketing or distribution to policyholders or members. This product validation process shall be proportionate and appropriate to the nature of each insurance product. It defines…

The obligations set out in Article L. 516-1 do not apply to: 1° Insurance products covering the risks referred to in Article L. 111-6; 2° Contracts mentioned in b of article L. 861-4 of the Social Security Code.